Banks that are starting to work with EWA providers to streamline connections for their commercial customers should pay close attention to what's happening in this tug-of-war over whether EWA will be considered a loan or not—according to Andrew Kushner, who is policy counsel of the nonprofit Center for Responsible Lending, which analyzes financial practices and works with the industry and regulators to improve the state of lending, especially for marginalized groups. Kushner explained why there's a widespread perception among banks and fintechs that EWA is not a loan and not subject to the Truth in Lending Act, or TILA.
